Bill Text: NJ S599 | 2024-2025 | Regular Session | Introduced

New Jersey Senate Bill 599

Introduced

Bill Title: Concerns certain fees for credit card usage during state of emergency.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2024-01-09 - Introduced in the Senate, Referred to Senate Commerce Committee [S599 Detail]

Download: New_Jersey-2024-S599-Introduced.html

SENATE, No. 599

STATE OF NEW JERSEY

221st LEGISLATURE

PRE-FILED FOR INTRODUCTION IN THE 2024 SESSION

Sponsored by:

Senator LATHAM TIVER

District 8 (Atlantic and Burlington)

SYNOPSIS

Concerns certain fees for credit card usage during state of emergency.

CURRENT VERSION OF TEXT

Introduced Pending Technical Review by Legislative Counsel.

An Act concerning credit card fees and supplementing Title 56 of the Revised Statutes.

Be It Enacted by the Senate and General Assembly of the State of New Jersey:

1. a. As used in this section:

"Electronic payment system" means an entity, which is not a national bank, that directly, or through licensed members, processors or agents, provides the proprietary services, infrastructure, and software that route information and data to facilitate transaction authorization, clearance, and settlement, and that merchants access in order to accept a brand of general-purpose credit cards, charge cards, debit cards or store-valued cards as payments for goods or services.

"Merchant" means a person or entity doing business in this State which offers goods or services for sale in this State.

b. Whenever a public health emergency is declared by the Governor pursuant to the "Emergency Health Powers Act," P.L.2005, c.222 (C.26:13-1 et seq.) and is in effect, or a state of emergency is declared by the governor pursuant to P.L.1942, c.251 (C.App.A:9-33 et seq.) and is in effect, or both, no electronic payment system may, directly or through an agent, acquirer, processor or member of the system, impose a fee on a merchant for the manual entry of a credit card that is higher than the fee imposed for an electronic credit card transaction.

2. This act shall take effect immediately.

STATEMENT

This bill prohibits an electronic payment system from imposing a fee on a merchant for the manual entry of a credit card that is higher than the fee for an electronic credit card transaction. "Electronic payment system" is defined as an entity, which is not a national bank, that directly, or through licensed members, processors or agents, provides the proprietary services, infrastructure, and software that route information and data to facilitate transaction authorization, clearance, and settlement, and that merchants access in order to accept a brand of general-purpose credit cards, charge cards, debit cards or store-valued cards as payments for goods or services. "Merchant" is defined as a person or entity doing business in this State which offers goods or services for sale in this State. The provisions of the bill would be in effect during a state of emergency declared by the governor.